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Author: PSUEngineer Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 25318  
Subject: Re: I know it's been done before.. Date: 5/1/2012 1:58 PM
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Some of the requirements for 401(k) plans (and 403(b) and 457 plans) is that in TOTAL, and INDIVIDUAL can't contribute more the annual limit (which this year is 17,000, plus a catchup if the plan allows and you are over 50) which rises with inflation (in $500 increments). Doesn't matter how many 401(k), 403(b) or 457 plans you participate in (or any combination of the three), you can't defer more than the limit IN TOTAL.

The Economic Growth and Tax Relief Reconciliation Act of 2001 eliminated the coordination of benefits restriction for governmental 457 plans. An employee can contribution up to the maximum to both a 401k and governmental 457 plan.

PSU
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